Vanguard Small-Cap ETF

VB • ARCA

Vanguard Small-Cap ETF is an exchange-traded fund on ARCA. As of Q3 2025, 2,138 institutional investors hold shares in this ETF, with total holdings valued at $39.2B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $6.0B.

Overview

Overview of institutional ownership in VB as of Q3 2025

All Institutions

Institutions: 2,138
Value Held: $39.2B
Shares Held: 154.1M
Avg Position: $18.3M
Median Position: $1.3M

Hedge Funds

Hedge Funds: 24
Value Held: $139.6M
Shares Held: 551.0K
Avg Position: $5.8M
Median Position: $529.0K

Biggest Investors

Institutions with the largest positions in VB as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$6.0B 0.45% of portfolio	23.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$2.0B 0.12% of portfolio	7.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$1.6B 0.32% of portfolio	6.1M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$1.1B 0.32% of portfolio	4.3M shares	≤ Q2 2013 Held for 12y 5m+	$341.99B
L LPL Financial LLC Institution	-	$1.0B 0.30% of portfolio	4.0M shares	≤ Q2 2013 Held for 12y 5m+	$340.07B
UBS Group AG Institution	Sergio P. Ermotti CEO	$979.1M 0.19% of portfolio	3.9M shares	Q4 2014 Held for 10y 11m	$511.54B
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	Charles David Welling CEO	$812.3M 1.36% of portfolio	3.2M shares	Q1 2019 Held for 6y 8m	$59.9B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$681.0M 0.45% of portfolio	2.7M shares	≤ Q2 2013 Held for 12y 5m+	$149.83B
J JONES FINANCIAL COMPANIES LLLP Institution	-	$672.5M 0.46% of portfolio	2.6M shares	≤ Q2 2013 Held for 12y 5m+	$146.70B
CAPTRUST FINANCIAL ADVISORS RIA/Wealth	James Fielding Miller CEO	$639.0M 1.31% of portfolio	2.5M shares	≤ Q2 2013 Held for 12y 5m+	$48.9B

Net Capital Flow

Institutional buying and selling activity for VB in Q3 2025

Traded: −$829.4M
Buyers: 992
Sellers: 881
Total Bought: +$1.8B
Total Sold: −$2.6B
Avg Position: $17.8M

Biggest Buyers

Institution	Net Bought	Current Position
C Colony Group, LLC Institution	+$241.0M +947.8K shares	$286.2M 1.1M shares
GRIMES & COMPANY, INC. RIA/Wealth	+$125.8M +494.9K shares	$274.2M 1.1M shares
Cetera Investment Advisers RIA/Wealth	+$114.3M +449.4K shares	$281.4M 1.1M shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$94.7M +372.5K shares	$812.3M 3.2M shares
STATE STREET CORP Institution	+$62.2M +243.9K shares	$160.1M 627.6K shares
WELLS FARGO & COMPANY/MN Institution	+$61.8M +243.0K shares	$1.6B 6.1M shares
V VANTAGEPOINT INVESTMENT ADVISERS LLC Institution	+$57.4M +225.6K shares	$57.4M 225.6K shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	+$32.2M +126.5K shares	$681.0M 2.7M shares
CAPTRUST FINANCIAL ADVISORS RIA/Wealth	+$31.7M +124.7K shares	$639.0M 2.5M shares
F FLOW TRADERS U.S. LLC Institution	+$29.1M +114.3K shares	$29.1M 114.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
J JONES FINANCIAL COMPANIES LLLP Institution	−$1.1B −4.3M shares	$672.5M 2.6M shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	−$312.3M −1.3M shares	Sold Off 0 shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$220.5M −867.2K shares	$1.1B 4.3M shares
BANK OF AMERICA CORP /DE/ Institution	−$202.2M −795.3K shares	$6.0B 23.5M shares
UBS Group AG Institution	−$63.1M −248.1K shares	$979.1M 3.9M shares
Gibraltar Capital Management, Inc. RIA/Wealth	−$41.0M −161.2K shares	$71.0M 279.3K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$33.9M −133.1K shares	$287.1M 1.1M shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	−$33.7M −132.7K shares	$479.2M 1.9M shares
NGAM ADVISORS, L.P. Long Only Manager	−$31.2M −122.5K shares	$111.8M 439.8K shares
G GCIC Ltd. Institution	−$30.9M −121.5K shares	$126.3M 496.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited VB in Q3 2025

New Positions: 57
New Value: $100.4M
Exited Positions: 63
Exited Value: $417.5M

New Positions

Institution	Position Value
V VANTAGEPOINT INVESTMENT ADVISERS LLC Institution	$57.4M 225.6K shares
Berman McAleer LLC RIA/Wealth	$11.3M 44.3K shares
VIRTUE ASSET MANAGEMENT LLC RIA/Wealth	$4.2M 16.6K shares
E Equity Wealth Partners, LLC RIA/Wealth	$4.2M 16.4K shares
Northern Financial Advisors Inc RIA/Wealth	$2.8M 10.9K shares
Forefront Wealth Partners, LLC RIA/Wealth	$2.5M 9.7K shares
United Financial Planning Group LLC RIA/Wealth	$2.2M 8.7K shares
Intrua Financial, LLC RIA/Wealth	$1.5M 5.7K shares
C Corsicana & Co. Institution	$1.0M 4.0K shares
B&D White Capital Company, LLC RIA/Wealth	$849.0K 3.3K shares

Exited Positions

Institution	Previous Position
Kingstone Capital Partners Texas, LLC RIA/Wealth	$312.3M 1.3M shares
SRS Capital Advisors, Inc. RIA/Wealth	$27.6M 112.2K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$26.6M 112.4K shares
True North Advisors, LLC RIA/Wealth	$15.9M 67.1K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$7.6M 32.0K shares
Armis Advisers, LLC RIA/Wealth	$5.6M 23.4K shares
Precision Wealth Strategies, LLC RIA/Wealth	$2.2M 9.3K shares
AlphaStar Capital Management, LLC RIA/Wealth	$1.9M 7.9K shares
M Mosaic Advisors LLC Family Office	$1.7M 7.4K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$1.7M 7.2K shares

Options Activity

Institutions with the largest Call and Put options positions in VB as of Q3 2025

Call Positions: 3
Call Value: $17.2M
Put Positions: 6
Put Value: $6.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$10.1M 398.0 contracts
J JANE STREET GROUP, LLC Institution	$4.4M 172.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.7M 107.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.2M 124.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.6M 102.0 contracts
BANK OF AMERICA CORP /DE/ Institution	$254.3K 10.0 contracts
Smith & Howard Wealth Management, LLC RIA/Wealth	$203.4K 8.0 contracts
HighTower Advisors, LLC RIA/Wealth	$8.7K 10.0 contracts
J JANE STREET GROUP, LLC Institution	- - contracts

Most Committed Institutions

Institutions with VB as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Investments & Financial Planning, LLC RIA/Wealth	David Brian Short Managing Partner	20.99% $38.8M	152.8K shares	Q4 2022 Held for 2y 11m	$185.1M
Aufman Associates Inc RIA/Wealth	Edward J Aufman Chairman	20.67% $36.7M	144.5K shares	Q4 2019 Held for 5y 11m	$177.7M
Brown Financial Advisory RIA/Wealth	Daniel Scott Mcleod CEO	17.80% $30.4M	119.4K shares	Q4 2020 Held for 4y 11m	$170.6M
Gibraltar Capital Management, Inc. RIA/Wealth	Mccrary Oliver Lowe President	12.75% $71.0M	279.3K shares	Q1 2025 Held for 8 months	$556.9M
BLUESTEM FINANCIAL ADVISORS, LLC RIA/Wealth	Jacob Daniel Kuebler President	12.04% $30.8M	121.0K shares	Q4 2019 Held for 5y 11m	$255.5M
BCK Partners, Inc. RIA/Wealth	Sarah Jean Creath Owner	11.54% $21.4M	84.3K shares	Q4 2020 Held for 4y 11m	$185.7M
MBE Wealth Management, LLC RIA/Wealth	Joseph Lee Berry CCO	11.02% $25.2M	99.1K shares	Q1 2021 Held for 4y 8m	$228.7M
McCarthy Grittinger Financial Group, LLC RIA/Wealth	Matthew T. Miler Managing Partner	10.56% $43.3M	170.4K shares	Q4 2018 Held for 6y 11m	$410.3M
Whelan Financial RIA/Wealth	Portia Lissi White CEO	10.44% $33.0M	129.6K shares	Q3 2021 Held for 4y 2m	$315.5M
S SEARCY FINANCIAL SERVICES INC /ADV RIA/Wealth	Jessica Ann Kmetty CEO	10.41% $27.4M	107.7K shares	Q2 2025 Held for 5 months	$263.1M